MTN has retained its enviable position as the most valuable brand in South Africa, with a brand value of US$40.94 billion in the latest Brand Finance South Africa 100 2023 rankings.
Brand value is the net economic benefit that a brand owner would achieve by licensing the brand in the open market.
MTN was assigned a brand value of R74.3 billion (US$40.94 billion), up 24% in the year and nearly double that of the country’s second most valuable brand, Vodacom – R39.8 billion.
Brand Finance noted that this was the 12th time in the past thirteen years that MTN was the country’s most valuable brand, adding that MTN’s brand value is up 50% from its pre-pandemic level, which is impressive considering the difficult operating conditions and the complex geopolitical environment in which the brand has faced.
However, even though MTN’s brand value is way higher than that of Vodacom, Brand Finance said that Vodacom outperformed MTN in several key metrics, including customer satisfaction, usage, reputation, quality and customer service.
Sustainability
In terms of the specific attributes that drive overall brand value, Brand Finance places very high premium on sustainability.
In that respect, MTN Group’s strategic priority to create shared value with ESG (environment, social and governance) at the core of its business, was recognized as the best in the country, and a key determinant to its overall brand value.
At R8.6 billion, MTN’s ‘sustainability perceptions value’ was the highest of all companies in the survey.
“As well as being South Africa’s most valuable brand, MTN also has the highest sustainability perceptions value of any brand included in the South Africa 100 2023 ranking – R8.6 billion. This indicates how much brand value MTN has tied up in sustainability perceptions (11.6%),” it said.
MTN Group President and Chief Executive Officer Ralph Mupita said the survey results were an indicator of the work done to deliver on the Group’s strategic intent, which is Ambition 2025 strategic: Leading digital solutions for Africa’s progress.
“We are driven to extend digital and financial inclusion across our markets, and we thank all our stakeholders – from our subscribers, to our employees, to our nation state hosts and regulators – for their continued support. You inspire us to keep doing better together.”
